The Marketing Mix and Key Stakeholder Groups for Ryanair Airline - Assignment Example

The marketing mix and key stakeholder groups for Ryanair Airline Table of Contents Audit 2 Identify the level of influence and impact of stakeholder groups, other than customers, relevant to Ryanair Airline 2 Identify the organisation’s current relationship with the THREE stakeholder groups with the most influence and impact 4 Identify the organisation’s current marketing mix and how it meets the needs of these THREE stakeholder groups with the most influence and impact, with specific reference to corporate social responsibility and ethical issues. 5 References 7 Audit Identify the level of influence and impact of stakeholder groups, other than customers, relevant to Ryanair Airline In order to amplify the sustainability and reputation in this age of extreme aggressiveness, it is the stakeholders, who might present positive strategies and policies for the growth the organization. This is because, stakeholders are recognised as those individual, in which the organization is entirely dependent over a long period of time. Moreover, varied types of internal motives and desires of these stakeholders get fulfilled due to the increase of the organizational productivity and profitability. Other than this, the stakeholders are those individual, who get affected by the implementation of varied types of inventive activities by the organization. This section identifies the prime stakeholders of Ryanair Airline that offers significant impact and influence over organizational activities are employees, pressure groups and shareholders. Employees: employees are considered as the internal stakeholders of an organization and play a very vital role in organizational improvement. This is because; it is the employees or the human resources of an organization that dedicates his or her total commitment so as to amplify his level of performance or goals (Abratt, 1989, pp.63-76). Similarly, the employees or human resources of Ryanair Airline might try to present effective attitude, behaviour as well as services so as to satisfy the requirements of the customers. Only then, the reliability and trust of the customers over the hospitality of Ryanair Airlines might get enhanced that may improve the brand image and market share of the brand (ESOMAR, 2008, pp. 190-213). Other than this, if the level of hospitality of the employees of Ryanair Airlines is extremely praise-worthy, then the range of customers might get increased that may amplify the profitability and productivity of the organization (Annual Report, Ryanair.com. 2014). However, in order to maintain such type of hospitality, the employees need to offer extensive training and development workshops so as to improve their communication skills and intelligence power (Ellis, 2011, pp. 332-345). Apart from this, in order to make the employees as the most profitable assets of Ryanair, effective communication and participation system need to be implemented, at the time of developing any strategy or policy (Guirham, 1999, pp. 112-134). For example: in order to amplify the position and total revenue, the organization of Ryanair decided to low its price rates. However, it was accepted by all its employees and so it proved extremely effective for the organization of Ryanair (Gupta, 2004, pp. 278-290). Pressure groups: pressure groups are the external stakeholders and they also offer significant influence over the strategies and policies of the organization. These groups of individual try to implement various strategies and policies for the effectiveness of the society through pressures (Davenport, 2005, pp. 134-145). However, due to extensive pressure, the organizational management had to implement them for future prospective. Although, the Norwegian Consumer Protection authority had fined Ryanair Airlines for charging extra money at the time of ticket cancellation, still the pressure groups forced the management to retain such policies within the organization (Kolb, 2008, pp. 178-190). Shareholders: in order to improve the ROE of the Ryanair Airlines as well as the amount of return of the Airlines, the shareholders tried to reduce the fare of the air tickets to a significant extent as compared to Easyjet (True Solution, n. d.). Thus, from these above information, it might be stated that both internal and external stakeholders offers significant impact over the decisions of the organizations. Identify the organisation’s current relationship with the THREE stakeholder groups with the most influence and impact All the three stakeholders such as employees, pressure groups as well as the shareholders offer significant influence over the organization of Ryanair Airlines (Kazmi, 2010, pp. 467-478). Moreover, all of them are directly related with the prosperity and brand value of the organization as mentioned above in future era. However, among all of them, the most influential one are the employees. This is because; it is the employees or human resources, who act as the backbone of the organization (Porter, 2008, pp. 442-454). Without their support and duty, the organization of Ryanair Airlines may not satisfy the requirements of the customers. Moreover, it is the employees, who communicates and coordinates with the customers or passengers of the Airlines and present them the required thing (Davies, 2012, pp. 278-312). However, if the employees of Ryanair Airlines fail to communicate with the customers in an effective way then their reliability and loyalty over the brand might get reduced (Porter, 2008, pp. 356-367). As a result of which, the profitability and customer base might get decreased day by day resulting in downfall of the total brand in the market among others (Argenti, 2010, pp. 312-323). Therefore, in order to enhance the inner skills and morale of the employees of Ryanair Airlines, its management tries to present varied types of training programs. By doing so, their devotion and presentation skills might get improved that may enhance their motivation towards the assigned tasks. However, due to which, the level of profitability and brand value of the organization of Ryanair Airline might get improved to a considerable extent in the market (Rajagopal, 2000, pp. 323-345). Along with this, the organization of Ryanair Airlines might try to present best salaries or compensation to its employees in order to retain them for longer period of time (Beall, 2010, pp. 412-434). Only then, the prosperity of the organization of Ryanair Airline might get enhanced among others. Thus, it might be stated that among all the three stakeholders, the employees are the most influential and effective one as compared to others (Porter, 1986, pp. 356-367). Hence, due to these underlining causes, the organization of Ryanair Airlines offers higher concentration over the desires and benefits of employees and also encourages them to participate in all sorts of decision making processes. Identify the organisation’s current marketing mix and how it meets the needs of these THREE stakeholder groups with the most influence and impact, with specific reference to corporate social responsibility and ethical issues. The marketing mix of the Ryanair Airlines is presented below: Product or service: offering best quality of services at lowest cost so as to retain the customers for longer period of time (Cheratony, 1993, pp. 156-157). This is done, in order to amplify the profitability and productivity of the organization in the market among others (Schmitt, 2011, pp. 225-234). Price: the organization offers lowest prices to its customers so as to improve its competitiveness and prosperity in the market (Alreck & Settle, 1999, pp. 130-144). Along with this, by offering lowest prices, the organization attracts wide range of customers towards its end (Swart & et. al. 2012, pp. 332-344). Place: the organization of Ryanair Airlines offers the facility of online booking so as to improve its portfolio and prosperity (Balmer, 2001, pp. 248-291). Along with this, due to the presentation of this facility, the organization became successful in attracting numerous customers of varying income groups and cultures (Bradley, 2012, pp. 712-723). Promotion: the organization offers varied types of promotional campaigns through online sites so as to improve its demand and awareness among the customers (Balmer, 2010, pp. 612-623). This proved extremely effective for the organization thereby amplifying its market share and brand image (Ryanair.com, 2014). People: the organization of Ryanair Airlines recruited highly experienced and talented as well as young staffs so as to improve its reliability (Tushman & Anderson, 2004, pp. 113-134). Process: the organization offered varied types of extra services to its customers so as to enhance their dependency and loyalty among others (Ryanair.com, 2014). This improved the brand position and competitiveness of Ryanair Airlines in the market among others (Wiid & Diggines, 2010, pp. 223-234). Physical Evidence: the organization of Ryanair Airlines, presented decentralised airport facilities for its customers. This proved extremely worthy for the organization thereby amplifying its aggressiveness and market value (Xu, 2005, pp. 123-134). Thus, by offering all the above mentioned facilities, the reliability and profit margin of the brand get enhanced and so the performance related pay systems of the employees also increases (Tidd & Bessant, 2005, pp. 224-245). Apart from this, in order to fulfil the goals of stakeholders and pressure groups, the organization offers varied types of extra services such as allocated seat, duty fees, and additional luggage facilities to its clients so as to amplify its CSR and also tries to take the exact fare from the customers availing online booking sites (Balmer, 1995, pp.24-46). These types of inventive services are offered to retain and enhance its ethical image and status in the market among others so as to amplify its demand (Christensen, 2003, pp. 612-623). References Abratt, R. 1989. “A new approach to the corporate image management process”. Journal of Marketing Management, Vol. 5(1), pp.63-76. Alreck, P. & Settle, R. 1999. Strategies for building consumer brand preference. Journal of Product and Brand Management, Vol. 8 Issue 2, pp.130-144. Annual Report, Ryanair.com. 2014. ‘Annual report 2014'. 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